HOLLYWOOD PARK INC/NEW/
3, 1997-07-09
RACING, INCLUDING TRACK OPERATION
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<PAGE>
 
 
+--------+
| FORM 3 |          U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+                  WASHINGTON, D.C. 20549
          
            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
      Section 17(a) of the Public Utility Holding Company Act of 1935 or
              Section 30(f) of the Investment Company Act of 1940

- --------------------------------------------------------------------------------
1.  Name and Address of Reporting Person

        Goeglein                    Richard                        J.
    ----------------------------------------------------------------------------
        (Last)                      (First)                        (Middle)

        1050 South Prairie Avenue
    ----------------------------------------------------------------------------
                                   (Street)

        Inglewood                   CA                                90301
    ----------------------------------------------------------------------------
        (City)                      (State)                           (Zip)


2.  Date of Event Requiring Statement (Month/Day/Year)                6/30/97
                                                                  --------------

3.  IRS or Social Security Number of Reporting Person (Voluntary)   
                                                                  --------------

4.  Issuer Name and Ticker or Trading Symbol  Hollywood Park, Inc. (HPRK)
                                             -----------------------------------

5.  Relationship of Reporting Person to Issuer (Check all applicable)

    [X] Director    [ ] Officer             [ ] 10% Owner    [ ] Other
                        (give title below)                       (specify below)


    ----------------------------------------------------------------------------
 
6.  If Amendment, Date of Original (Month/Day/Year) 
                                                    ----------------------------

7.  Individual or Joint/Group Filing (Check applicable box)

    [X] Form filed by One Reporting Person  
    [ ] Form filed by More than One Reporting Person

             TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED

<TABLE> 
<CAPTION> 
- --------------------------------------------------------------------------------
1. Title           2. Amount of         3. Ownership Form:  4. Nature of 
   of                 Securities Bene-     Direct (D) or       Indirect Bene-
   Security           ficially Owned       Indirect (I)        ficial Ownership
   (Instr. 4)         (Instr. 4)           (Instr. 5)          (Instr. 5) 
- --------------------------------------------------------------------------------
<S>               <C>                   <C>                 <C> 
Common Stock, par    1250                 D
 value $.10 per 
 share
- --------------------------------------------------------------------------------
</TABLE> 
Reminder: Report on a separate line for each class of securities beneficially 
owned directly or indirectly. (Print or Type Responses)

<PAGE>
 
FORM 3 (continued)

              TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
        (e.g., puts, calls, warrants, options, convertible securities)

<TABLE> 
<CAPTION> 
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Title of Derivative        2. Date Exer-    3. Title and Amount of Securities   4. Conversion   5. Ownership   6. Nature of In-
    Security (Instr. 4)           cisable and      Underlying Derivative Security      or              Form of        direct Bene- 
                                  Expiration       (Instr. 4)                          Exercise        Derivative     ficial    
                                  Date                                                 Price           Security:      Ownership
                                  (Month/Day/                                          of              Direct (D)     (Instr. 5)
                                  Year)                                                Derivative      or In-     
                              ----------------------------------------------------     Security        direct (I)     
                               Date      Expira-                        Amount or                      (Instr. 5)     
                               Exer-     tion            Title          Number of
                               cisable   Date                           Shares    
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>       <C>          <C>               <C>         <C>             <C>            <C>  
Stock Option                   6/30/97   10/22/02     Common Stock      2438        $16.00           D 
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                   6/30/97   10/22/03     Common Stock       813        $31.60           D 
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                   6/30/97   10/22/04     Common Stock       813        $23.20           D 
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                   6/30/97   10/22/05     Common Stock       813        $12.40           D 
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                   6/30/97   10/22/06     Common Stock       813        $ 8.40           D 
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE> 
Explanation of Responses:
                                                                         

**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space provided is insufficient, See Instruction 6 for procedure.

                              /s/ Richard J. Goeglein          7 July 1997
                              -------------------------------  -----------------
                              **Signature of Reporting Person        Date
                        By:   Richard J. Goeglein



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